Robocath said today that it raised nearly $6 million for the release of its robotic system in European target markets and tapped Boston Scientific (NYSE:BSX) veteran Lucien Goffart to be its new CEO.
Rouen, France-based Robocath said it plans to use the $5.5 million (€5 million) in new funds to lay the groundwork for its R-One robotic coronary angioplasty platform, which won CE Mark approval last February.
In 2017, Robocath landed $5.2 million in one funding round, before adding $2 million just more than six months later.
Existing investors Go Capital, NCI, Normandie Participations, M Capital and Supernova Invest participated in the round, joined by new backers Caisse d’Epargne Normandie Innovation, Crédit Agricole Innove en Normandie and Crédit Agricole subsidiary Unexo.
Goffart, a 20-year veteran of the interventional cardiology space, spent the last four years as the business manager for France at Boston Scientific.
“I’m delighted to welcome Lucien Goffart to the company at such a key moment for us with the commercial launch of our first robotic platform,” founder & president Philippe Bencteux said in prepared remarks. “His experience in the industry is undeniable. This appointment has been made at a particularly auspicious time, with our only direct competitor, Corindus Vascular Robotics, having been bought out by Siemens for $1.1 billion (€1 billion). I would like to thank our longstanding shareholders, who have once again demonstrated their belief in us by raising this new capital. We are also grateful for the support shown by new shareholders.”
“It’s an honor for me to begin work today as CEO of Robocath,” Goffart added. “I’m impressed by the progress the company has made since it was founded and I’m excited to be working with such a young and dynamic team. R-One is a unique product that offers several advantages to physicians and, by extension, to patients. It has significant potential on the market, and I’m looking forward to starting clinical studies and writing a brand new page in the history of interventional cardiology.”
($1 = €0.911859)
